Is Polymarket legal in India?
Yes. Polymarket is currently accessible from India. The platform is not blocked, and Indian users can create accounts, deposit funds, and trade on prediction markets without restrictions.
India is not on Polymarket's list of 33 blocked countries. The platform checks your location via IP address when you sign up and will notify you if your country is restricted.
How Indian regulations apply
India does not have specific laws regulating prediction markets or event contracts. Online gambling laws vary by state, with some states like Goa and Sikkim having more permissive frameworks, while others like Andhra Pradesh and Telangana have stricter gambling prohibitions.
Prediction markets occupy a gray area in Indian law. They are generally not classified as gambling because they involve skill-based probability assessment rather than pure chance. However, no specific regulatory framework exists for platforms like Polymarket.
The Reserve Bank of India (RBI) has placed restrictions on cryptocurrency transactions in the past, though the Supreme Court struck down the banking ban in 2020. Crypto trading remains legal but subject to a 30% tax on gains and 1% TDS on transactions under Indian tax law.
How to get started from India
Getting started takes less than two minutes:
- Go to Polymarket and create an account with your email
- Deposit funds via credit card, UPI (through crypto exchanges), or crypto transfer
- Browse markets and place your first trade
New to prediction markets? Read our complete beginner guide to understand how they work.
Tax implications for Indian users
Gains from Polymarket trading are likely subject to India's 30% crypto tax, as trades are settled in USDC (a cryptocurrency). Additionally, a 1% TDS applies on crypto transactions. Consult a tax professional familiar with Indian crypto regulations for guidance specific to your situation.
Deposit methods for Indian users
The easiest way to deposit is via credit card directly on Polymarket. Alternatively, you can buy USDC on an Indian crypto exchange like WazirX or CoinDCX and transfer it to your Polymarket wallet.
For detailed deposit instructions, check our deposit guide.
